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Top 2010 Art Market Trends Pt. 3 ? artmarketblog.com
2011-01-22 23:23:00 Top 2010 Art Market Trends Pt. 3 – artmarketblog.com Although 2010 saw a plethora of cities all over the world emerge as centres of cultural and artistic production, one of the most interesting locations of art market growth during 2010 was none other than the city of Los Angeles. The opening of a new building ...
By: Art Market Blog
Housing Starts Up 21%? Let?s Hope Not
2011-01-18 18:05:00 The National Association of Homebuilders hosted their annual NAHB International Builders? Show this past week. David Crowe, their chief economist had an “optimistic” forecast for 2011: NAHB Chief Economist David Crowe said job growth will provide a stronger stimulus in the housing market than 010′s home buyer tax credits. “This year?s spring selling season will ...
By: HousingDoom
What?s To Be Done With The Homes Not Worth Fixing?
2011-01-17 08:01:00 Diana Olick of CNBC did an article last week warning potential homebuyers about some of those foreclosure “bargains” out there. Certainly many starry-eyed Bob Villa wannabes have purchased foreclosures thinking they’d turn a shack into a palace with a little paint and carpet and have ended up over their heads. Olick goes over some of ...
By: HousingDoom
Top 2010 Art Market Trends Pt. 2 ? artmarketblog.com
2011-01-16 14:07:00 Top 2010 Art Market Trends Pt. 2 – artmarketblog.com There is really not just one dominant ?art market? that one can refer to anymore. Once upon a time when one referred to the art market they were generally referring to the global leaders England and the USA, with perhaps the French market included depending on ...
By: Art Market Blog
Foreclosure-Gate Widens: Attorney Practices Questioned Too
2011-01-14 08:01:00 It’s not just the banks that are facing scrutiny for questionable foreclosure practices. In Florida, some attorney practices are being questioned as well. A spokeswoman for the Attorney General’s office had a list: Among the allegations she said the attorney general’s office is examining: Law firms padding bills in order to get higher final judgments ...
By: HousingDoom
Elderly Reverse Mortgage Borrowers Facing Eviction
2011-01-13 15:00:00 I have come out against reverse mortgages on several occasions. I don’t like the way they are marketed and have felt they were potentially dangerous to borrowers. According to a recent U.S. News and World Report article, my fears are justified. [Thanks L!] The government is moving to head off a growing problem with its ...
By: HousingDoom
Housing Depression? From CNBC No Less
2011-01-11 20:30:00 When we started in 2006, I was often told that Housing Doom was overly pessimistic. My usual reply was “Who’d be interested in a site called “Housing Moderation”? Now in 2011 apparently even CNBC shares our pessimism: In the past few years, we?ve all been careful to choose our words carefully, not calling it a ...
By: HousingDoom
Top 2010 Art Market Trends Pt. 1 ? artmarketblog.com
2011-01-07 22:23:00 Top 2010 Art Market Trends Pt. 1 – artmarketblog.com 1. Arte Povera: The Arte Povera trend that took hold in 2010 has more to do with the concept of ?Arte Povera? as opposed to the actual artists involved in the movement. The trend also extends to the work of other artists whose work embodied the ...
By: Art Market Blog
Housing Bust Creating Declining Cities Filled With ?Bulldozer Bait?
2011-01-07 14:49:00 Anyone who’s spent any time in the Rustbelt has seen their share of vacant boarded up houses. As job opportunities diminished, folks pulled up stakes, populations dropped and the market for their houses disappeared. Cities went into decline. Now a new study by James R. Follain, Ph.D., senior fellow of the Rockefeller Institute of Government ...
By: HousingDoom
HD?s Housing Scorecard For Obama
2010-10-29 09:01:00 Monday the Obama administration issued it’s October Housing Scorecard, which provides data and charts to show where the administration believes the housing market is. They issued a press release with the following summary: The latest housing figures show continued signs of stabilization in house prices and high home affordability due in part to record low ...
By: HousingDoom
Should Banks Dump Foreclosures On The Market, Or Trickle Them Out Slowly?
2010-10-28 16:53:00 We’ve talked a lot about the “shadow inventory” held by the lenders. According to RealtyTrac, lenders are currently holding back 600,000 properties. Foreclosures are up and those numbers have to be growing. Back in the 1980s when the S&L crisis hit [It doesn't look much like a crisis given today's situation, does it?] the RTC ...
By: HousingDoom
Homebuilders Struggle To Compete With Foreclosures
2010-10-27 09:01:00 Things have been tough for homebuilders in the past few years. With foreclosures now about a third of existing home sales, builders have had a tough time competing on price. Here’s one creative try from Meritage though: [From L's inbox- thanks L!] There has been a lot of speculation that foreclosure moratoria around the country ...
By: HousingDoom
BofA Foreclosure Foul-Ups- We Need More Data
2010-10-25 18:32:00 Bank of America has started going through their paperwork or admit to the following: Bank of America Corp. for the first time acknowledged finding some mistakes in foreclosure files as it begins to resubmit documents in 102,000 cases. The Charlotte, N.C., lender discovered errors in 10 to 25 out of the first several hundred foreclosure ...
By: HousingDoom
The FDIC Is Moving Out Of Selling Condos And Into Selling CMBS
2010-10-22 18:22:00 Several upscale condominium projects went into foreclosure in Phoenix. They have since been picked up by an investment group, renovated and put on the market. The investment group is ST Residential, led by the FDIC: [Thanks L!] ST Residential is an investment and debt-resolution firm that is 60 percent owned by the Federal Deposit Insurance ...
By: HousingDoom
Are Buyers Getting Less Excited About Foreclosures?
2009-12-16 18:33:00 We’ve seen some great sales numbers this past year in some housing markets due to investor interest in purchasing foreclosures. Phoenix is a great example. If CNBC is correct, the foreclosure mania might be losing it’s luster: [Hat tip L!] US home buyers are less willing to buy foreclosed properties than they were six months ...
By: HousingDoom
Renters Going Back To Basics
2009-12-12 08:01:00 Even in the rental market- luxury is out and back to basics is in: After the economic panic of 1873 many large Victorian homes were abandoned. Do you suppose that could be the fate of many of today’s McMansions? They might be too expensive to keep and too frivolous to rent out.
By: HousingDoom
2009 Market Trends and Outlook
2009-06-17 22:58:00 We had our 2009 Market Trends and Outlook meeting by local economist Matthew Gardner yesterday. For the most part, Gardner has been right on with his predictions over the years, and we really enjoy attending Gardner’s speeches since he’s also very good at presenting both sides–the good and the bad. But, Gardner usually presents the ...
29% of ALL Homes Sold at a Loss in Oct-Dec 08 ? Zillow
2009-02-04 04:20:00 This morning?s Times article reported the profit/loss of homes sold in the last three months of 2008- pretty interesting! - Homes purchased in January, February and March 2007, averaged a $100,000 loss for those sold in the 4th quarter of 2008. - Homes purchased in early 2000, appreciated about $200,000 if they sold at the end of last year. They ...
Market trends from IQ Trends
2009-01-29 06:00:00 "The developing market pattern is similar to that of the bear market of 1966- 1974," says blue chip expert Kelley Wright (http://www.thestockadvisors.co-m/ccount/click.php?id=2771). In IQ Trends (http://www.thestockadvisors.co-m/ccount/click.php?id=2771), he offers an in-depth, long-term market view."This is not to say we expect the bear market to last for eight years, but that we suspect the Dow will go through a similar sequence of three down legs interspersed by two highly profitable counter rallies until the dividend yield on the Dow reaches 6.0%, which should set the stage for a new bull market."If our analysis is accurate the first leg down that began in November 2007 may have ended in two stages; on October 10th and November 20th , 2008. For this assessment we are looking at two indicators."The first is that on October 10th when 92.60% of all the stocks traded on the NYSE broke to new lows. This is an historic event that may never be repeated again. We would label this the ...
Q13 Interview! What is going on in our Rental Market?
2008-12-12 05:52:00 Last week I was interviewed by Angela King at Q13 about current rental market conditions and it looks like it surfaced this morning- click here for the entire clip! I am glad the interview came up when it did because our rental market has been severely impacted by the decrease in sales activity and financial crisis. ...
Seattle Times- Construction Sites Currently Stalled in Downtown Seattle
2008-10-28 03:03:00 This past Sunday, The Times featured a worth-mentioning piece on the stalled condominium and apartment buildings downtown Seattle and Bellevue. With over 23 projects in Seattle alone, the lack of construction financing is the number one contributing factor for the dead sites. 1. 151 John Street (17 Apartments, 1st & John) 2. Icon (283 Condominiums, 6th & ...
Government Is No Good At ?Flip That House?
2008-06-07 15:01:00 Even some of the sharpest folks [Or perhaps I should say ESPECIALLY the sharpest folks] in real estate have gotten out of house "flipping". In a declining economy, with a glut of homes on the market, and financing difficult- it’s next to impossible to have flipping make financial sense. That doesn’t stop government from wanting ...
By: HousingDoom
Will Home Prices Turn Before You Know It?
2008-06-03 15:03:00 The real estate pundits are out and warning that you should buy before prices start to go up. From Irwin Kellner, chief economist for Marketwatch and Capital One Bank: Housing could shift from a buyer’s market to a seller’s market before you know it. Now don’t get me wrong. I am not saying that all is ...
By: HousingDoom
Greenspan Apparently Suffering From ?Bubble Blindness?
2008-05-31 16:06:00 From Reuters yesterday: MONTREAL (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan said on Friday that he does not expect another "bubble" in world markets for a long time, and that central banks at any rate do not control the long-term interest rates that can be related to bubbles.
By: HousingDoom
Case-Shiller: Home Price Drop Largest On Record
2008-05-27 15:23:00 From Reuters this morning: Prices of U.S. single-family homes plunged a record 14.1 percent in the first quarter from a year earlier, marking a pace five times faster than the last housing recession, according to the Standard & Poor’s/Case Shiller national home price index reported on Tuesday. The S&P/Case Shiller composite index of 20 ...
By: HousingDoom
Albuquerque, New Mexico Real Estate Market Trends
2008-05-26 11:17:00 Albuquerque, New Mexico Real Estate In our community, not unlike many others, we have seen transactions affected by recent higher loan-to-value ratio requirements resulting from falling and lower sales prices. Good News Beginning June 1, Fannie Mae and Freddie Mac will no longer require borrowers to provide an extra 5 percent down payment when purchasing homes in areas deemed "declining markets" because prices are falling. Thanks to the National Association of REALTORS® who protested the declining-markets policy, the giants of the secondary loan market agreed to abandon it. under the the new policy, borrowers can get loans up to 95 percent loan-to-value even in markets in which prices have been falling. Before the change, borrowers suddenly found they could only get loans up to 90 percent of the price of the property because lenders were requiring a 5-percentage-point cushion to protect against possible future price declines. Many ...
Canadaian Housing Market Also Subject To Housing ?Physics? And Is Going Dow
2008-05-24 14:08:00 Alas, what goes up, must come down- even in Canada. After months of the MSM reporting that the Canadian housing market would not go the way of their neighbors to the south- the Canadian housing market is going the way of their neighbors to the south: Canada’s long-running housing boom has ended, with the formerly ...
By: HousingDoom
Interpreting Real Estate Statistics
2008-05-24 05:40:00 I love reading Bernice Ross on Inman News. Bernice is a regular writer for Inman as well as a blogger in her own right. What fascinates me is her insights into the market and her quick wit. Today she has...
Saint Louis & St. Charles Real Estate Market Trends - Market Shows Signifca
2008-05-21 00:00:00 Cottrell Report ? Total Market Overview for Week Ending 5/16/08 Saint Louis MO Real Estate Market Update & Overview Current WK 4 Weeks Prior Trend Active Listings 5,668 5,458 - Pending Ratio 17.3% 16.0% + Price Reductions 8.1% 8.3% +...
Getting Paid To Walk Away
2008-05-20 09:01:00 It apparently isn’t just homeowners walking away from their homes. Now squatters are moving into foreclosure properties- and making a quick buck while they are at it: Squatters are moving into foreclosed homes and posing as tenants so they can live in comfort until the bank either goes through the eviction process or bribes them to ...
By: HousingDoom
Denver Suburbs Homes Sales and Market Trends - Lone Tree and Highlands Ranc
2008-05-16 18:28:00 April 2008 - Highlands Ranch Real Estate - Lone Tree Real Estate - Sales & Market Trends in Denver's Suburbs The Highlands Ranch and Lone Tree areas of Denver's south metro real estate market are still seeing decent activity. THis is the area that is found in the Denver MLS as DHL. I dislike repeating the same ...
Canada?s real estate market trends
2008-05-15 17:40:00 Home Prices Decline for the First Time in Seven Years According to Scotia Economics After many false calls, there is now convincing evidence that Canada’s housing market has come off the boil, according to the latest Real Estate Trends released today by Scotia Economics. Home resales, having fallen for four consecutive months, are running about 15 ...
Sorry Greenspan, But I?m Not Seeing It
2008-05-15 09:01:00 According to Marketwatch yesterday, "Greenspan sees U.S. house price hit bottom in 2009". I think he’s seeing things. [Thanks L!] U.S. home prices will likely bottom out in early 2009 after the market absorbs excess inventories, former U.S. Federal Reserve Chairman Alan Greenspan told audiences in Asia Wednesday, according to news reports. Greenspan, ...
By: HousingDoom
The Subprime Crisis Became Global
2008-05-13 06:23:00 I'm sure it's an economic fact and known by people with much smarter brains than mine, but the concept of a Global Pool of Money is staggering. The Global Pool of Money is a major player in how the sub-prime...
SHIFTS IN REAL ESTATE MARKET TRENDS
2008-05-13 02:01:00 SHIFTS IN REAL ESTATE MARKET TRENDS A few years ago your neighbors put their house on the market and had so many buyers that they were on the winning side of a bidding war. Now you are trying to sell your home, and there's just no action. The real estate marketplace fluctuates constantly, based on local supply and demand. When buyer demand is high and the supply of properties for sale is low, prices tend to escalate until they reach a certain point where buyers begin to say no and listing inventories increase. When this market reversal happens, sellers who price their homes at the higher level of previous sales prices must re-think their pricing strategies or their homes may not sell. Whether you are buying or selling a home, it is important to remember that the shift from a seller's to a buyer's market can occur very quickly. You can count on us for sound advice on what phase the market is in right now. ...
A Sign of the Times
2008-05-10 09:01:00 L thought this looks like a sign of the times, and I had to agree. If you have MLS access, check out #2895409. It looks like the granite countertop business isn’t what it used to be: $200,000.00 PRICE REDUCTION !GREAT LOCATION/ GOOD INCOME BUSINESS. HIGHLY POTENTIAL GROWTH GRANITE COUNTERTOP AND CABINET RETAIL AND WHOLESALE STORE. ...
By: HousingDoom
The Real Estate Market Trends in Los Gatos
2008-05-09 15:43:00 Los Gatos Home Sales Trends How's the real estate market in the Town of Los Gatos? The Los Gatos housing market varies from one price point and neighborhood to the next, from one type of housing to the next, and even between the town's two zip codes, 95030 and 95032. Here we'll take a view of the overall movement in the market; please understand that it may or may not apply to your Los Gatos home so please call or email me for specific information relating to your property. Overall, Los Gatos continues to be a buyer's market, though not as deep as in other places in Santa Clara County. Inventory is rising in both single family homes and in condos/townhomes, which is a typical trend for this time of year. The market has improved somewhat over a month ago in terms of median and average sales price (the graphs below use a 12 month moving average, but the actual numbers do show an uptick). To view the report for Los Gatos using the actual numb...
National Pending Home Sales Hit A New Low In March
2008-05-08 09:01:00 It’s enough to make you burst out singing "Blue Skies". From the National Association of Realtors’ chief economist: Two things homebuyers shouldn’t have to worry about is a recession or long-term credit crunch. That’s what Lawrence Yun, chief economist with the National Association of Realtors, told real estate practitioners who gathered at the ...
By: HousingDoom
High Gas Prices Popped Suburbia?s Bubble
2008-05-07 09:01:00 When you ask "Who’s responsible for the bursting of the housing bubble?" Fingers fly in every direction to point out the guilty- naive buyers, crooked lenders, low interest rates- you’ve probably know the possible suspects by heart by now. An interesting paper called "Driven to the Brink" however, points the finger in a different direction- ...
By: HousingDoom
Condo King County Weekly Sales Ratios for Apr. 30th, 2008
2008-05-03 01:41:00 Condo Only, NWMLS Area 701 (Belltown & Downtown Seattle)
Wall Street Journal Ranks Seattle Leader in Overall Strength
2008-05-02 20:17:00 The graph below is just a snippet of an image from a Wall Street Journal article which shows Seattle to be the strongest city for overall strength in it’s metro area. Click the image to review in more detail. We all know that the chart will tell us we have a healthy supply ...
House Prices Continue to Rise
2008-05-01 14:49:00 Just read this article on VOCM.com discussing the increase in house prices in St. John’s and surrounding areas. Notice the jump in house price from $151,000 to $180,000 for a 1000 sqft bungalow home in St. John’s. House Prices Continue to Rise: Survey May 1, 2008 A new survey shows house prices in the province continue ...
It?s Not A Subprime Crisis- It?s A Consumption Crisis
2008-04-30 01:17:00 From Minyanville today- a great quote ofnthe current "crisis": [Thanks L!] Unlike many, I have never thought that the U.S.’ current crisis was a “subprime” crisis, or even a more-broad mortgage crisis. No, to me, this has been and will continue to be an evolving consumer consumption crisis which started with the largest and most leveraged ...
By: HousingDoom
Foreclosure ?Cleansing??
2008-04-29 15:09:00 In spite of government efforts to reduce the foreclosure rate in the U.S., the percentage of Americans going into foreclosure is accelerating: [Thanks G!] April 29 (Bloomberg) — U.S. foreclosure filings more than doubled in the first quarter as payments rose for subprime adjustable mortgages and falling home prices left property owners unable to ...
By: HousingDoom
How drunk do you have to be to buy a Miami condo?
2008-04-27 09:01:00 Well, I suppose desperate times, call for desperate measures….. [Hat tip L!] In February, throngs of people gathered at a $100,000 poolside party in Miami, downing Roberto Cavalli vodka, sampling food from local restaurants and dancing to a DJ blasting hip-hop and house music. Nearly 1,000 more people showed up than expected, sending ...
By: HousingDoom
St. John?s Remax Affordability Report 2008
2008-04-24 13:01:00 Although a recent report pegged St. John?s as one of the most affordable cities in the G7 nations, affordability is a growing concern. Buyers continue to face challenging market conditions, including unprecedented demand and extremely tight inventory levels. Multiple offers are quite prevalent. It is not uncommon to see quality, new listings generate three to four ...
Starbucks Blames Woes On Housing
2008-04-24 09:01:00 Housing woes have not only caused lenders to fail and foreclosures to mount, but apparently have impacted the coffee market as well: Starbucks Corp said on Wednesday it was the latest victim of the U.S. mortgage meltdown. Blaming hard-hit housing markets of California and Florida for slowing sales, the coffee shop chain slashed its quarterly ...
By: HousingDoom
Business Builder Forum - Getting Ahead in the Current and New Market Trends
2008-04-23 10:43:00 Business Builder Forum Market Trends in the Current Financial Enviroment. Directories Philippines Corporation (DPC) in partnership with, Philamlife, cordially invites you to ?Getting Ahead in the Current and New Market Trends? on May 8, 2008 from 2:00PM to 5:00PM at the Security Case Room, Asian Institute of Management Conference Center. Arm yourself with the right information and ...
So who pays the buyer?s gas?
2008-04-23 09:01:00 Another goodie from L’s daily spam- A builder willing to pay for agent’s gas, just to get them to come out and see the community: This isn’t a unique offer- builders have been offering these for awhile. It tells you something about the community though- it’s EXPENSIVE to get there and back. [Vistancia is 37 miles ...
By: HousingDoom
Dothan Real Estate Market Trends - 1st Quarter 2008
2008-04-22 16:21:00 At the end of each quarter, we look at some Dothan real estate market statistics that don?t fit well into one of our monthly reports. That is not to diminish their importance however. Median Price Median price can vary significantly from month-to-month, so we compare quarters to help smooth out the bumps. Median price is used instead ... |
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